Western Africa: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Western Africa

In 2021, the West African lathe for removing metal market decreased by -11.3% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption showed a slight curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Lathes For Removing Metal in Western Africa

In value terms, lathe for removing metal production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 54% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Lathes For Removing Metal

Exports in Western Africa

In 2021, exports of lathes for removing metal in Western Africa reduced dramatically to X units, dropping by -38.9% compared with the previous year. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 800% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, lathe for removing metal exports soared to $X in 2021. Overall, exports saw a pronounced decrease. The growth pace was the most rapid in 2018 with an increase of 794%. Over the period under review, the lafor removing metal exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, amounting to X units, which was approx. 91% of total exports in 2021. It was distantly followed by Niger (X units), mixing up a 9.1% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -6.9% from 2012 to 2021. Niger experienced a relatively flat trend pattern. Niger (+4.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest lathe for removing metal supplier in Western Africa, comprising 51% of total exports. The second position in the ranking was held by Niger ($X), with a 0.1% share of total exports.

In Cote d'Ivoire, lathe for removing metal exports expanded at an average annual rate of +15.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, rising by 121% against the previous year. Over the period under review, the export price recorded a tangible increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 976%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Niger stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+24.3%).

Imports of Lathes For Removing Metal

Imports in Western Africa

After three years of growth, overseas purchases of lathes for removing metal decreased by -30.7% to X units in 2021. Over the period under review, imports, however, continue to indicate tangible growth. The pace of growth appeared the most rapid in 2020 when imports increased by 55%. As a result, imports reached the peak of X units, and then declined dramatically in the following year.

In value terms, lathe for removing metal imports rose remarkably to $X in 2021. Overall, imports, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2018 when imports increased by 77% against the previous year. Over the period under review, lafor removing metal imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Ghana represented the major importer of lathes for removing metal in Western Africa, with the volume of imports finishing at X units, which was near 49% of total imports in 2021. Burkina Faso (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units) and Senegal (X units). All these countries together took near 28% share of total imports. The following importers - Guinea (X units), Benin (X units), Nigeria (X units), Mauritania (X units), Togo (X units) and Liberia (X units) - together made up 20% of total imports.

Imports into Ghana increased at an average annual rate of +15.4% from 2012 to 2021. At the same time, Liberia (+15.5%), Guinea (+13.7%), Burkina Faso (+9.9%), Senegal (+8.6%) and Benin (+2.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +15.5% from 2012-2021. Togo experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-1.0%), Mauritania (-7.4%) and Nigeria (-19.7%) illustrated a downward trend over the same period. While the share of Ghana (+32 p.p.), Burkina Faso (+5.1 p.p.), Guinea (+2.7 p.p.) and Senegal (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-4 p.p.), Mauritania (-4.8 p.p.) and Nigeria (-30.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported lathes for removing metal in Western Africa, comprising 58% of total imports. The second position in the ranking was held by Nigeria ($X), with a 12% share of total imports. It was followed by Liberia, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in Ghana stood at +31.6%. In the other countries, the average annual rates were as follows: Nigeria (-16.2% per year) and Liberia (+36.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, with an increase of 55% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Liberia ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+17.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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